Liquidity Services, Inc. acquires Auction Software/Simple Auction Site to enhance its software solutions for the Circular Economy marketplace.
Quiver AI Summary
Liquidity Services, Inc. has acquired Auction Software/Simple Auction Site to establish Liquidity Services Software Solutions, Inc., a new division focused on private-label and software-as-a-service (SaaS) offerings. This acquisition enhances Liquidity Services' presence in the Circular Economy marketplace and expands its software development capabilities, benefiting entrepreneurs and businesses, including global corporations. Auction Software, founded in 2015 by Rajesh Rajaram, provides auction solutions across various sectors, while Simple Auction Site specializes in auction platforms for sports collectibles and fine wine. CEO Bill Angrick expressed enthusiasm about integrating the Auction Software/Simple Auction Site team into Liquidity Services, aiming to deliver innovative solutions and maintain high standards of professionalism and data security for their clients. The terms of the deal were not disclosed and are not expected to significantly affect Liquidity Services’ financial results.
Potential Positives
- Liquidity Services, Inc. expands its capabilities in the Circular Economy by acquiring Auction Software/Simple Auction Site, enhancing its software development team and SaaS offerings.
- The acquisition strengthens Liquidity Services’ strategic position in the growing $100 Billion Circular Economy marketplace, allowing the company to better support entrepreneurs and large corporations alike.
- Liquidity Services retains key team members from Auction Software/Simple Auction Site, ensuring continuity and expertise in delivering advanced auction software solutions.
- This move aligns with Liquidity Services’ commitment to innovation and professionalism, potentially increasing client satisfaction and trust in their services.
Potential Negatives
- The terms of the transaction were not disclosed, leading to potential concerns about the financial implications and valuation of the acquisition.
- The acquisition is not expected to be material to Liquidity Services’ overall results, which may indicate a lack of significant impact on the company's growth or strategic direction.
- The press release does not provide specific metrics or projections that could offer reassurance about the success of the integration and the potential return on investment from the acquisition, leaving stakeholders with uncertainty.
FAQ
What is the recent acquisition by Liquidity Services, Inc.?
Liquidity Services, Inc. has acquired Auction Software/Simple Auction Site to enhance its software solutions for the Circular Economy.
How does this acquisition benefit Liquidity Services?
The acquisition strengthens Liquidity Services' capabilities in the Circular Economy marketplace and enhances support for businesses with innovative software solutions.
When was Auction Software founded?
Auction Software was founded in 2015 by Rajesh Rajaram, specializing in auction and marketplace solutions.
What sectors does Simple Auction Site operate in?
Simple Auction Site provides auction platform services primarily in the sports collectibles and fine wine sectors.
Who will remain with Liquidity Services after the acquisition?
Owners Rajesh Rajaram and other employees from Auction Software/Simple Auction Site will remain with Liquidity Services post-acquisition.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LQDT Insider Trading Activity
$LQDT insiders have traded $LQDT stock on the open market 43 times in the past 6 months. Of those trades, 0 have been purchases and 43 have been sales.
Here’s a breakdown of recent trading of $LQDT stock by insiders over the last 6 months:
- JAIME MATEUS-TIQUE has made 0 purchases and 3 sales selling 150,000 shares for an estimated $4,896,500.
- WILLIAM P III ANGRICK (Chairman of the Board and CEO) sold 100,000 shares for an estimated $3,329,999
- JOHN DAUNT (EVP, Chief Commercial Officer) has made 0 purchases and 9 sales selling 83,985 shares for an estimated $1,884,095.
- STEVEN WEISKIRCHER (SVP & Chief Technology Officer) has made 0 purchases and 11 sales selling 65,241 shares for an estimated $1,737,447.
- EDWARD KOLODZIESKI has made 0 purchases and 5 sales selling 50,000 shares for an estimated $1,386,625.
- JORGE CELAYA (EVP & Chief Financial Officer) has made 0 purchases and 4 sales selling 32,047 shares for an estimated $904,983.
- MARK A SHAFFER (VP, Gen. Counsel & Secretary) has made 0 purchases and 6 sales selling 29,056 shares for an estimated $648,387.
- NOVELETTE MURRAY (Chief Human Resources Officer) has made 0 purchases and 3 sales selling 8,411 shares for an estimated $186,932.
- GEORGE H ELLIS sold 5,500 shares for an estimated $123,970
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$LQDT Hedge Fund Activity
We have seen 70 institutional investors add shares of $LQDT stock to their portfolio, and 64 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SILVERCREST ASSET MANAGEMENT GROUP LLC removed 712,074 shares (-39.6%) from their portfolio in Q3 2024, for an estimated $16,235,287
- PACER ADVISORS, INC. removed 303,584 shares (-34.4%) from their portfolio in Q4 2024, for an estimated $9,802,727
- STALEY CAPITAL ADVISERS INC removed 265,819 shares (-13.2%) from their portfolio in Q3 2024, for an estimated $6,060,673
- WELLINGTON MANAGEMENT GROUP LLP removed 158,247 shares (-30.0%) from their portfolio in Q3 2024, for an estimated $3,608,031
- ESSEX INVESTMENT MANAGEMENT CO LLC added 120,587 shares (+inf%) to their portfolio in Q3 2024, for an estimated $2,749,383
- ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC added 61,918 shares (+107.7%) to their portfolio in Q4 2024, for an estimated $1,999,332
- MORGAN STANLEY added 47,434 shares (+20.4%) to their portfolio in Q3 2024, for an estimated $1,081,495
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
BETHESDA, Md., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Liquidity Services, Inc. (NASDAQ:LQDT), a leading global commerce company powering the circular economy, today announced the acquisition of
Auction Software
/Simple Auction Site, to form the core of Liquidity Services Software Solutions, Inc, a new private-label and software-as-a-service (SaaS) arm of Liquidity Services, Inc.
The transaction strengthens Liquidity Services’ penetration of the large and fragmented Circular Economy marketplace, extending its software development team’s capabilities and its ability to support entrepreneurs, small and medium sized businesses, and global F500 corporations through complimentary private-label and SaaS marketplace solutions.
Founded in 2015 by Rajesh Rajaram, Auction Software specializes in the development of comprehensive auction and marketplace solutions for a wide range of organizations to successfully participate in the $100 Billion Circular Economy marketplace. Simple Auction Site (SAS) provides auction platform services in the sports collectibles and fine wine sectors. Over the past decade, Auction Software & Simple Auction Site have established themselves as trusted partners for businesses looking to implement forward, reverse, and hybrid online auctions by delivering innovative, private-label and SaaS auction websites.
"We are excited to welcome the collective Auction Software/Simple Auction Site team and their customers to the Liquidity Services family," said Bill Angrick, CEO of Liquidity Services. "This acquisition aligns with our commitment to empower organizations to create value in the Circular Economy marketplace using innovative solutions. We are dedicated to serving Auction Software and Simple Auction Site’s clients with the highest level of professionalism, data security and reliability to enable their success, and together continue the digital transformation of how commerce is conducted in the Circular Economy.”
Liquidity Services will retain Mr. Rajaram, Mr. Freedman and Auction Software/Simple Auction Site’s employees post-closing and continue their focus on delivering market-leading auction software solutions for their clients. Terms of the transaction were not disclosed, and the transaction is not expected to be material to Liquidity Services’ overall results.
Contact:
Liquidity Services
Investor Relations
investorrelations@liquidityservicesinc.com
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